What is the meaning of "Duckworth–Lewis method" in Cricket?
Sometimes the team that would appear to be winning loses the match because of this rule. Why?
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It is a method is used in cricket to calculate the target score when the match is interrupted and the required quota is not completed. Most of the time this is used for matches which were stopped due to rain. An alternative method for this is Jayadevan's_Rain rule. Please note that DL method is what used in all international matches nowadays.
You can get more details from this wikipedia article:
The Duckworth–Lewis method (often written as D/L method) is a mathematical formulation designed to calculate the target score for the team batting second in a limited overs match interrupted by weather or other circumstances. It is generally accepted to be the most accurate method of setting a target score. The D/L method was devised by two English statisticians, Frank Duckworth and Tony Lewis.
The basic principle is that each team in a limited-overs match has two resources available with which to score runs: wickets remaining, and overs to play. Where overs are lost, setting an adjusted target is not as simple as to reduce the batting team's run target proportionally, because a team batting second with ten wickets in hand and 25 overs to play can be expected to play more aggressively than one with ten wickets and a full 50 overs, and can consequently achieve a higher run rate. The Duckworth–Lewis method is an attempt to set a statistically fair target for the second team's innings, based on the score achieved by the first team, taking their wickets lost and overs played into account.
Duckworth - Lewis method is a method which is used in cricket for calculating a probable score in weather affected matches.
This method is based on the current score, number of wickets fallen and the revised number of overs to be palyed the teams.
You can get more details about this method at http://static.espncricinfo.com/db/ABOUT_CRICKET/RAIN_RULES/DUCKWORTH_LEWIS.html